Law_and_DevelopmentFri Dec 12 19:00:43 EST 2014w1es1000.worldbank.orgPolicy Research Working Paper | Law_and_Development | World BankPolicy Research Working Paper on Law_and_Development, from the World BankWhat do we know about preferential trade agreements and temporary trade barriers ?Two of the most important trade policy developments to take place since the 1980s are the expansion of preferential trade agreements and temporary trade barriers, such as antidumping, safeguards, and countervailing duties. Despite the empirical importance of preferential trade agreements and temporary trade barriers and the common feature that each can independently have quite discriminatory elements, relatively little is known about the nature of any relationships between them. This paper surveys the literature on some of the political-economic issues that can arise at the intersection of preferential trade agreements and temporary trade barriers and uses four case studies to illustrate variation in how countries apply the World Trade Organization's global safeguards policy instrument. The four examples include recent policies applied by a variety of types of countries and under different agreements: large and small countries, high-income and emerging economies, and free trade areas and customs unions. The analysis reveals important measurement and identification challenges for research that seeks to find evidence of systematic relationships between the formation of preferential trade agreements, the political-economic implications of their implementation, and the use of subsequent temporary trade barriers.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140602142400&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-06-02T04:00:00.000Z2014-06-02T04:00:00.000ZLaw and Development|International Economics and Trade|Finance and Financial Sector DevelopmentTrade Law|Free Trade|Trade Policy|Currencies and Exchange Rates|Rules of OriginThe World RegionBown, Chad P.|Karacaovali, Baybars|Tovar, PatriciaWhat do we know about preferential trade agreements and temporary trade barriers ?EnglishWorldLaw and Development|International Economics and Trade|Finance and Financial Sector DevelopmentTrade Law|Free Trade|Trade Policy|Currencies and Exchange Rates|Rules of OriginWPS6898WorldEnglishPolicy Research Working PaperThe World RegionEncouraging health insurance for the informal sector : a cluster randomized trialSubsidized voluntary enrollment in government-run health insurance schemes is often proposed as a way of increasing coverage among informal sector workers and their families. This paper reports the results of a cluster randomized control trial in which 3,000 households in 20 communes in Vietnam were randomly assigned at baseline to a control group or one of three treatments: an information leaflet about Vietnams government-run scheme and the benefits of health insurance; a voucher entitling eligible household members to 25 percent off their annual premium; and both. The four groups were balanced at baseline. In the control group, 6.3 percent (82/1296) of individuals were enrolled in the endline, compared with 6.3 percent (79/1257), 7.2 percent (96/1327), and 7.0 percent (87/1245) in the information, subsidy, and combined intervention groups; the adjusted odds ratios were 0.94, 1.12, and 1.15, respectively. Only among those reporting poor health were any significant intervention effects found, and only for the combined intervention: an enrollment rate of 16.3 percent (33/202) compared with 8.3 percent (18/218) in the control group, and an adjusted odds ratio of 2.50. The results suggest limited opportunities to raise voluntary health insurance enrollment through information campaigns and subsidies, and that these interventions exacerbate adverse selection.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140609100646&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-06-09T04:00:00.000Z2014-06-09T04:00:00.000ZLaw and Development|Health, Nutrition and Population|Communities and Human SettlementsHealth Monitoring & Evaluation|Health Economics & Finance|Health Systems Development & Reform|Health Law|Housing & Human HabitatsEast Asia and PacificWagstaff, Adam|Nguyen, Ha Thi Hong|Dao, Huyen|Balesd, SarahEncouraging health insurance for the informal sector : a cluster randomized trialEnglishVietnamLaw and Development|Health, Nutrition and Population|Communities and Human SettlementsHealth Monitoring & Evaluation|Health Economics & Finance|Health Systems Development & Reform|Health Law|Housing & Human HabitatsWPS6910VietnamEnglishPolicy Research Working PaperEast Asia and PacificAsymmetric punishment as an instrument of corruption controlThe control of bribery is a policy objective in many developing countries. It has been argued that asymmetric punishments could reduce bribery by incentivizing whistle-blowing. This paper investigates the role played by asymmetric punishment in a setting where bribe size is determined by Nash bargaining, detection is costly, and detection rates are set endogenously. First, when detection rates are fixed, the symmetry properties of punishment are irrelevant to bribery. Bribery disappears if expected penalties are sufficiently high; otherwise, bribe sizes rise as expected penalties rise. Second, when detection rates are determined by the bribe-giver, a switch from symmetric to asymmetric punishment either eliminates bribery or allows it to persist with larger bribe sizes. Furthermore, when bribery persists, multiple bribe sizes could survive in equilibrium. The paper derives parameter values under which each of these outcomes occurs and discusses how these could be interpreted in the context of existing institutions.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140623155925&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-06-23T04:00:00.000Z2014-06-23T04:00:00.000ZLaw and Development|Public Sector Development|Social Development|Private Sector DevelopmentPublic Sector Corruption & Anticorruption Measures|Crime and Society|Corruption & Anticorruption Law|Social Accountability|Business Ethics, Leadership and ValuesThe World RegionBasu, Karna|Basu, Kaushik|Cordella, TitoAsymmetric punishment as an instrument of corruption controlEnglishWorldLaw and Development|Public Sector Development|Social Development|Private Sector DevelopmentPublic Sector Corruption & Anticorruption Measures|Crime and Society|Corruption & Anticorruption Law|Social Accountability|Business Ethics, Leadership and ValuesWPS6933WorldEnglishPolicy Research Working PaperThe World RegionInsurance and inclusive growthWhile the real sector and governments (along with a few micro economists) have long recognized the core economic role that the insurance function plays, the mainstream economics profession has largely treated it as invisible background. This literature review of the relevant research, most of which has been carried out in the past few decades, demonstrates that the insurance sector contributes at a basic level to inclusive economic growth and the effectiveness of the credit function. It also shows that the latter impact may be particularly fundamental in assisting the poor to avoid poverty traps and to progress economically. However, the research and the theoretical models underpinning it also highlight certain constraints to the efficient utilization of the insurance function. The literature dealing with innovations designed to overcome these constraints is reviewed and successful initiatives and remaining challenges are identified. </div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140624132258&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-06-24T04:00:00.000Z2014-06-24T04:00:00.000ZLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector DevelopmentClimate Change Economics|Debt Markets|Insurance & Risk Mitigation|Insurance Law|Banks & Banking ReformThe World RegionLester, RodneyInsurance and inclusive growthEnglishWorldLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector DevelopmentClimate Change Economics|Debt Markets|Insurance & Risk Mitigation|Insurance Law|Banks & Banking ReformWPS6943WorldEnglishPolicy Research Working PaperThe World RegionBank capital and systemic stabilityThis paper distinguishes among various types of capital and examines their effect on system-wide fragility. The analysis finds that higher quality forms of capital reduce the systemic risk contribution of banks, whereas lower quality forms can have a destabilizing impact, particularly during crisis periods. The impact of capital on systemic risk is less pronounced for smaller banks, for banks located in countries with more generous safety nets, and in countries with institutions that allow for better public and private monitoring of financial institutions. The results show that regulatory capital is effective in reducing systemic risk and that regulatory risk weights are correlated with higher future asset volatility, but this relationship is significantly weaker for larger banks. The paper also finds that increased regulatory risk-weights not correlated with future asset volatility increase systemic fragility. Overall, the results are consistent with the theoretical literature that emphasizes capital as a potential buffer in absorbing liquidity, information, and economic shocks reducing contagious defaults. </div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140626164410&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-06-26T04:00:00.000Z2014-06-26T04:00:00.000ZLaw and Development|Finance and Financial Sector DevelopmentBanks & Banking Reform|Access to Finance|Banking Law|Debt Markets|Financial IntermediationThe World RegionAnginer, Deniz|Demirguc-Kunt, AsliBank capital and systemic stabilityEnglishWorldLaw and Development|Finance and Financial Sector DevelopmentBanks & Banking Reform|Access to Finance|Banking Law|Debt Markets|Financial IntermediationWPS6948WorldEnglishPolicy Research Working PaperThe World RegionHow business community institutions can help fight corruptionThis paper considers the possibility of collective action by the business community to counter corruption in the award of government licenses and contracts. The analogy is with contract enforcement institutions studied by economic historians and contract law scholars. The institution in this context comprises a no-bribery norm, a community system to detect violations, and a multilateral ostracism penalty upon conviction in a community tribunal. The requirements such an institution must meet if it is to be effective are analyzed. It is shown that an institution of sufficient quality -- combining probability of correct detection and severity of punishment -- can eliminate bribery. If the private institution is not sufficiently good, then in conjunction with the state's formal apparatus it reduces the level of bribes demanded, but increases the probability of winning the license or contract through bribery. An improvement in the government's formal anti-corruption mechanism, holding the private institution constant, reduces both the level of bribes and the probability of success through bribery. The two institutions together are shown to achieve substantially better outcomes than either can on its own. </div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140627140142&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-06-27T04:00:00.000Z2014-06-27T04:00:00.000ZLaw and Development|Public Sector Development|Social Development|Private Sector DevelopmentPublic Sector Corruption & Anticorruption Measures|E-Business|Corruption & Anticorruption Law|Crime and Society|Social AccountabilityThe World RegionDixit, AvinashHow business community institutions can help fight corruptionEnglishWorldLaw and Development|Public Sector Development|Social Development|Private Sector DevelopmentPublic Sector Corruption & Anticorruption Measures|E-Business|Corruption & Anticorruption Law|Crime and Society|Social AccountabilityWPS6954WorldEnglishPolicy Research Working PaperThe World RegionThe Brasilia experiment : road access and the spatial pattern of long-term local development in BrazilThis paper studies the impact of the rapid expansion of the Brazilian road network, which occurred from the 1960s to the 2000s, on the growth and spatial allocation of population and economic activity across the country's municipalities. It addresses the problem of endogeneity in infrastructure location by using an original empirical strategy, based on the "historical natural experiment" constituted by the creation of the new federal capital city Brasília in 1960. The results reveal a dual pattern, with improved transport connections increasing concentration of economic activity and population around the main centers in the South of the country, while spurring the emergence of secondary economic centers in the less developed North, in line with predictions in terms of agglomeration economies. Over the period, roads are shown to account for half of pcGDP growth and to spur a significant decrease in spatial inequality.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140703092944&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-07-03T04:00:00.000Z2014-07-03T04:00:00.000ZLaw and Development|Transport|Health, Nutrition and Population|Macroeconomics and Economic Growth|Communities and Human SettlementsTransport Economics Policy & Planning|Economic Theory & Research|Population Policies|Corporate Law|Urban Slums UpgradingLatin America & CaribbeanBird, Julia|Straub, StephaneThe Brasilia experiment : road access and the spatial pattern of long-term local development in BrazilEnglishBrazilLaw and Development|Transport|Health, Nutrition and Population|Macroeconomics and Economic Growth|Communities and Human SettlementsTransport Economics Policy & Planning|Economic Theory & Research|Population Policies|Corporate Law|Urban Slums UpgradingWPS6964BrazilEnglishPolicy Research Working PaperLatin America & CaribbeanHow useful is inequality of opportunity as a policy construct ?The academic literature on equality of opportunity has burgeoned. The concepts and measures have begun to be used by policy institutions, including in specific sectors such as health and education. It is argued that one advantage of focusing on equality of opportunity is that policy makers are more responsive to that discourse than to equality of outcomes per se. This paper presents a critique of equality of opportunity in the policy context. Although the empirical analysis to which the literature has given rise is useful and is to be welcomed, current methods for quantifying and implementing the concept with a view to informing the policy discourse face a series of fundamental questions that remain unanswered. Without a full appreciation of these difficulties, the methods may prove to be misleading in the policy context.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140728112400&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-07-28T04:00:00.000Z2014-07-28T04:00:00.000ZLaw and Development|Poverty Reduction|Health, Nutrition and Population|GenderHealth Monitoring & Evaluation|Gender and Law|Human Rights|Equity and Development|Poverty Impact EvaluationThe World RegionKanbur, Ravi|Wagstaff, AdamHow useful is inequality of opportunity as a policy construct ?EnglishWorldLaw and Development|Poverty Reduction|Health, Nutrition and Population|GenderHealth Monitoring & Evaluation|Gender and Law|Human Rights|Equity and Development|Poverty Impact EvaluationWPS6980WorldEnglishPolicy Research Working PaperThe World RegionTrade flows and trade disputesThis paper introduces a new data set and establishes a set of basic facts and patterns regarding the trade that countries fight about under World Trade Organization (WTO) dispute settlement. The paper characterizes the scope of products, as well as the levels of and changes to the trade values, market shares, volumes, and prices for those goods that eventually become subject to WTO litigation. The first result is striking heterogeneity in the level of market access at stake across disputes: for example, 14 percent of cases over disputed import products feature bilateral trade that is less than $1 million per year and another 15 percent feature bilateral trade that is more than $1 billion per year. Nevertheless, some strong patterns emerge from a more detailed examination of the data. Both high- and low-income complainants tend to suffer important losses in foreign market access in the products that ultimately become subject to dispute. Furthermore, although the respondent's imposition of an allegedly WTO-inconsistent policy is associated with reductions, on average, in trade values, volumes, and exporter-received prices, there is some evidence of differences in the size of these changes across the different types of policies under dispute and the potential exporter country litigants. Finally, these different types of policies under dispute can have dissimilar trade effects for the complainant relative to other (non-complainant) exporters of the disputed product and this is likely to affect the litigation allegiance of third countries.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140728105654&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-07-28T04:00:00.000Z2014-07-28T04:00:00.000ZLaw and Development|International Economics and Trade|Macroeconomics and Economic Growth|Private Sector DevelopmentMarkets and Market Access|Trade Law|Economic Theory & Research|Free Trade|Emerging MarketsThe World RegionBown, Chad P.|Reynolds, Kara M.Trade flows and trade disputesEnglishWorldLaw and Development|International Economics and Trade|Macroeconomics and Economic Growth|Private Sector DevelopmentMarkets and Market Access|Trade Law|Economic Theory & Research|Free Trade|Emerging MarketsWPS6979WorldEnglishPolicy Research Working PaperThe World RegionCan tax simplification help lower tax corruption ?This paper seeks to find empirical evidence of a link between tax simplification and corruption in tax administration. It attempts to do this by first defining "tax simplicity" as a measurable variable and exploring empirical relationships between simpler tax regimes and corruption in tax administration. Corruption in tax administration is calculated with data series from the World Bank's Enterprise Survey Database. The focus is on business taxes. The study includes 104 countries from different income groups and regions of the world. The time period is 2002-12. The empirical findings support the existence of a significant link between the measure of tax corruption and tax simplicity, so a less complex tax system is shown to be associated with lower corruption in tax administration. It is predicted that the combined effect of a 10 percent reduction in both the number of payments and the time to comply with tax requirements can lower tax corruption by 9.64 percent. Some interesting regional differences are observed in the results. Similarly, the income level of countries plays an important role in determining the impact of tax simplification on tax corruption; specifically, the link is stronger for lower-income level countries. The positive link between tax simplicity and lower tax corruption has useful policy implications. </div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140730100458&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-07-30T04:00:00.000Z2014-07-30T04:00:00.000ZLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector Development|Private Sector DevelopmentTaxation & Subsidies|Emerging Markets|Debt Markets|Tax Law|Fiscal AdjustmentThe World RegionAwasthi, Rajul|Bayraktar, NihalCan tax simplification help lower tax corruption ?EnglishWorldLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector Development|Private Sector DevelopmentTaxation & Subsidies|Emerging Markets|Debt Markets|Tax Law|Fiscal AdjustmentWPS6988WorldEnglishPolicy Research Working PaperThe World RegionStrategic interactions and portfolio choice in money management : evidence from Colombian pension fundsThis paper studies the portfolio choice of strategic fund managers in the presence of a peer-based underperformance penalty. Evidence is taken from the Colombian pension fund management industry, where six asset managers are in charge of portfolio allocation for the mandatory contributions of the working population. These managers are subject to a peer-based underperformance penalty, known as the Minimum Return Guarantee. The trading behavior by the managers is studied before and after a change in the strictness of the guarantee in June 2007. The evidence suggests that a tighter minimum return guarantee results in more trading in the direction of peers, a behavior that is more pronounced for underperforming managers. These managers rebalance their portfolios by buying securities in which they are underexposed relative to their peers, as opposed to selling assets in which they are overexposed. Overall, the results suggest that incentives for managers to be close to industry benchmarks play an important role in the portfolio allocation of these funds.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140731092849&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-07-31T04:00:00.000Z2014-07-31T04:00:00.000ZLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector Development|Private Sector DevelopmentDebt Markets|Mutual Funds|Emerging Markets|Corporate Law|Markets and Market AccessLatin America & CaribbeanMorales, Alvaro PedrazaStrategic interactions and portfolio choice in money management : evidence from Colombian pension fundsEnglishColombiaLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector Development|Private Sector DevelopmentDebt Markets|Mutual Funds|Emerging Markets|Corporate Law|Markets and Market AccessWPS6994ColombiaEnglishPolicy Research Working PaperLatin America & CaribbeanExport performance and geography in CroatiaThis paper uses the gravity model to analyze whether the varying export performance of Croatian counties can be explained by their proximity to border gates, ports, and other county-specific characteristics. The analysis finds that longer distances to border gates increase trade frictions significantly for many product categories, although these frictions have been decreasing between 2007 and 2012. The paper analyzes the county specific factors that are associated with variation in export performance, net of distance. Results show that exports are strongly and positively correlated with motorway and road density, the size of the labor force, low-skill ratio, and the number of patents. These variables are also associated with a greater diversity of exports in terms of products and destinations. Several general policy implications are highlighted. The significant association between motorway and road density and export volume, number of destinations, as well as the diversity of exported products may indicate that improvements in connectivity and facilitation of transport could still play a significant role in enhancing regional trade outcomes. Similarly, good performance in research and development may significantly help to spur competitiveness and allow local producers to enter new markets in products and destinations, which in turn can increase the level of diversification and boost resilience to global economic shocks. </div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140807210559&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-08-07T04:00:00.000Z2014-08-07T04:00:00.000ZLaw and Development|Transport|International Economics and Trade|Macroeconomics and Economic GrowthEconomic Theory & Research|Free Trade|Transport Economics Policy & Planning|Trade Policy|Tax LawEurope and Central AsiaArtuc, Erhan|Iootty, Mariana|Pirlea, Ana FlorinaExport performance and geography in CroatiaEnglishCroatiaLaw and Development|Transport|International Economics and Trade|Macroeconomics and Economic GrowthEconomic Theory & Research|Free Trade|Transport Economics Policy & Planning|Trade Policy|Tax LawWPS6999CroatiaEnglishPolicy Research Working PaperEurope and Central AsiaBenchmarking the financial performance, growth, and outreach of greenfield microfinance institutions in Sub-Saharan AfricaIn recent years there has been a rapid increase in the presence and growth of greenfield microfinance institutions in Sub-Saharan Africa. This paper uses regressions to benchmark those African greenfields relative to other microfinance providers and finds that greenfields grew faster in terms of deposits and lending, improved their profitability to levels comparable to the top microfinance institutions, and substantially increased their lending to women. The effects were especially strong for greenfields that followed a consultant-led model to establish a deep retail banking presence spanning multiple countries, including the creation of extensive branch networks. Although their loan sizes are somewhat larger than those of most African microfinance institutions, indicating less outreach to the poorest market segments, greenfields have achieved rapid gains in financial inclusion on a broad scale. </div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140915084416&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-09-15T04:00:00.000Z2014-09-15T04:00:00.000ZLaw and Development|Finance and Financial Sector DevelopmentAccess to Finance|Banks & Banking Reform|Debt Markets|Corporate Law|Bankruptcy and Resolution of Financial DistressAfricaCull, Robert|Harten, Sven|Nishida, Ippei|Bull, GretaBenchmarking the financial performance, growth, and outreach of greenfield microfinance institutions in Sub-Saharan AfricaEnglishAfricaLaw and Development|Finance and Financial Sector DevelopmentAccess to Finance|Banks & Banking Reform|Debt Markets|Corporate Law|Bankruptcy and Resolution of Financial DistressWPS7029AfricaEnglishPolicy Research Working PaperAfricaMacroinsurance for microenterprises : a randomized experiment in post-revolution EgyptFirms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. A randomized experiment was conducted in post-revolution Egypt to measure the impact of insuring microenterprises against macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business takes a new loan, the size of the loan, or how the loan is invested. This lack of effect is attributed to microenterprises largely investing in inventories and raw materials rather than irreversible investments like equipment. These results suggest that, contrary to what some firms profess, macroeconomic and political risk is not inhibiting the investment behavior of microenterprises. However, insurance may still be of value to help firms cope with shocks when they do occur, but the paper is unable to examine this dimension, because the insurance product did not pay out over the course of the pilot.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140925191149&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-09-25T04:00:00.000Z2014-09-25T04:00:00.000ZLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector DevelopmentDebt Markets|Climate Change Economics|Access to Finance|Bankruptcy and Resolution of Financial Distress|Insurance LawMiddle East and North AfricaGroh, Matthew|McKenzie, DavidMacroinsurance for microenterprises : a randomized experiment in post-revolution EgyptEnglishEgypt, Arab Republic ofLaw and Development|Macroeconomics and Economic Growth|Finance and Financial Sector DevelopmentDebt Markets|Climate Change Economics|Access to Finance|Bankruptcy and Resolution of Financial Distress|Insurance LawWPS7048Egypt, Arab Republic ofEnglishPolicy Research Working PaperMiddle East and North AfricaReducing trade costs in east Africa : deep regional integration and multilateral actionThere is substantial evidence that with the progressive global decline in tariffs over several decades, trade costs are a more significant barrier to trade than tariffs, especially in Sub-Saharan Africa. This paper decomposes trade costs into three categories: costs that can be lowered by trade facilitation, nontariff barriers, and the costs of business services. The paper develops a 10-region, 18-sector, global trade model that includes Kenya, Tanzania, Uganda, and Rwanda of the East African Customs Union. The analysis finds that deep integration in the East African Customs Union that lowers these trade costs results in significant gains for the four countries, especially from improved trade facilitation. Extending the lowering of nontariff barriers and services liberalization multilaterally would increase the gains between two and seven times, depending on the country. that the analysis also finds that reducing nondiscriminatory services barriers in Kenya and Tanzania would increase welfare even more than multilateral reduction of discriminatory services barriers. The paper is innovative both conceptually and empirically. It contains foreign direct investment in services and is the first paper to numerically assess liberalization of barriers against domestic and multinational service providers in a multi-sector, multi-region, applied general equilibrium model. The paper uses new databases of the ad valorem equivalents of barriers in services and the time in trade costs. Both databases are shown to be important to the results.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20140929153817&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-09-29T04:00:00.000Z2014-09-29T04:00:00.000ZLaw and Development|International Economics and Trade|Macroeconomics and Economic Growth|Private Sector DevelopmentFree Trade|Economic Theory & Research|Trade Policy|Emerging Markets|Trade LawAfricaBalistreri, Edward J.|Tarr, David G.|Yonezawa, HidemichiReducing trade costs in east Africa : deep regional integration and multilateral actionEnglishAfricaLaw and Development|International Economics and Trade|Macroeconomics and Economic Growth|Private Sector DevelopmentFree Trade|Economic Theory & Research|Trade Policy|Emerging Markets|Trade LawWPS7049AfricaEnglishPolicy Research Working PaperAfricaForeign bank subsidiaries' default risk during the global crisis : what factors help insulate affiliates from their parents ?This paper examines the association between the default risk of foreign bank subsidiaries and their parents during the global financial crisis, with the purpose of understanding what factors can help insulate affiliates from their parents. The paper finds evidence of a significant positive correlation between parent banks' and foreign subsidiaries' default risk. This correlation is lower for subsidiaries that have higher capital, retail deposit funding, and profitability ratios and that are more independently managed from their parents. Host country regulations also influence the extent to which shocks to the parents affect the subsidiaries' default risk. In particular, the correlation between the default risk of the subsidiary and the parent is lower for subsidiaries operating in countries that impose higher capital, reserve, provisioning, and disclosure requirements and tougher restrictions on bank activities.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20141002133501&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-10-02T04:00:00.000Z2014-10-02T04:00:00.000ZLaw and Development|Finance and Financial Sector DevelopmentBanks & Banking Reform|Debt Markets|Corporate Law|Access to Finance|Bankruptcy and Resolution of Financial DistressThe World RegionAnginer, Deniz|Cerutti, Eugenio|Martinez Peria, Maria SoledadForeign bank subsidiaries' default risk during the global crisis : what factors help insulate affiliates from their parents ?EnglishWorldLaw and Development|Finance and Financial Sector DevelopmentBanks & Banking Reform|Debt Markets|Corporate Law|Access to Finance|Bankruptcy and Resolution of Financial DistressWPS7053WorldEnglishPolicy Research Working PaperThe World RegionAgricultural policies and trade paths in TurkeyIn 1959, shortly after the European Economic Community was founded under the 1957 Treaty of Rome, Turkey applied for Associate Membership in the then six-member common market. By 1963, a path for integrating the economies of Turkey and the eventual European Union had been mapped. As with many trade agreements, agriculture posed difficult political hurdles, which were never fully cleared, even as trade barriers to other sectors were eventually removed and a Customs Union formed. This essay traces the influences the Turkey-European Union economic institutions have had on agricultural policies and the agriculture sector. An applied general equilibrium framework is used to provide estimates of what including agriculture under the Customs Union would mean for the sector and the economy. The paper also discusses the implications of fully aligning Turkey's agricultural policies with the European Union's Common Agricultural Policy, as would be required under full membership.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20141009095314&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-10-09T04:00:00.000Z2014-10-09T04:00:00.000ZLaw and Development|Industry|International Economics and Trade|Agriculture|Macroeconomics and Economic GrowthFood & Beverage Industry|Crops and Crop Management Systems|Trade Policy|Economic Theory & Research|Trade LawEurope and Central AsiaLarson, Donald F.|Martin, Will|Sahin, Sebnem|Tsigas, MarinoAgricultural policies and trade paths in TurkeyEnglishTurkeyLaw and Development|Industry|International Economics and Trade|Agriculture|Macroeconomics and Economic GrowthFood & Beverage Industry|Crops and Crop Management Systems|Trade Policy|Economic Theory & Research|Trade LawWPS7059TurkeyEnglishPolicy Research Working PaperEurope and Central AsiaGreen subsidies and the WTOThis paper provides a detailed explanation how the law of the World Trade Organization regulates environmental subsidies with a focus on renewable energy subsidies. The paper begins by discussing the economic justifications for such subsidies and the criticisms of them and then gives examples of categories of subsidies. The paper provides an overview of the relevant World Trade Organization rules and case law, including the recent Canada-Renewable Energy case. The paper also makes specific recommendations for how World Trade Organization law can be improved and discusses the literature on reform proposals. The study finds that because of a lack of clarity in World Trade Organizaion rules, for some clean energy subsidies, a government will not know in advance whether the subsidy is World Trade Organization-legal.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20141014095048&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-10-14T04:00:00.000Z2014-10-14T04:00:00.000ZLaw and Development|Macroeconomics and Economic Growth|Environment|Private Sector DevelopmentEnvironmental Economics & Policies|Economic Theory & Research|Taxation & Subsidies|Emerging Markets|Trade LawThe World Region|Rest Of The WorldCharnovitz, SteveGreen subsidies and the WTOEnglishWorld|CanadaLaw and Development|Macroeconomics and Economic Growth|Environment|Private Sector DevelopmentEnvironmental Economics & Policies|Economic Theory & Research|Taxation & Subsidies|Emerging Markets|Trade LawWPS7060World|CanadaEnglishPolicy Research Working PaperThe World Region|Rest Of The WorldDoes mandating nondiscrimination in hiring practices influence women's employment ? evidence using firm-level dataThis study explores the relationship between mandating a nondiscrimination clause in hiring practices along gender lines and the employment of women versus men in 58 developing countries. The study finds a strong positive relationship between a nondiscrimination in hiring clause and women's relative to men's employment. The relationship is robust to several controls at the firm and country levels. The results also show sharp heterogeneity in the relationship between the nondiscrimination in hiring clause and women's versus men's employment, with the relationship being much larger in richer countries and in countries with more women in the population as well as among relatively smaller firms.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20141028151031&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-10-28T04:00:00.000Z2014-10-28T04:00:00.000ZLaw and Development|Health, Nutrition and Population|GenderPopulation Policies|Gender and Law|Gender and Development|Gender and Health|Human RightsThe World RegionAmin, Mohammad|Islam, AsifDoes mandating nondiscrimination in hiring practices influence women's employment ? evidence using firm-level dataEnglishWorldLaw and Development|Health, Nutrition and Population|GenderPopulation Policies|Gender and Law|Gender and Development|Gender and Health|Human RightsWPS7076WorldEnglishPolicy Research Working PaperThe World RegionTrafficking and fragility in West AfricaTrafficking is an emerging concern in West Africa. In 2011, 17 percent of all cocaine consumed in Europe -- 21 tons -- passed through the region, for a retail value of US$1.7 billion. This paper discusses the evolution of trafficking in the region and provides estimates of the size and value of trafficking flows to demonstrate the significance of this illegal activity. Although this topic is gaining increasing attention, less attention has been has been paid to how trafficking is perpetuating fragility. This paper contributes to this area of research by identifying five channels through which trafficking is intensifying fragility in the region. The relative importance of each channel is discussed, with specific countries as case-study examples. Possible programmatic responses are then suggested with examples of policy approaches successfully adopted elsewhere in the world.</div><img src="http://wbws.worldbank.org/feeds/main/tracker.html?p=000158349_20141031143922&db=doc&feedName=Law_and_Development&feedClass=NOT_DEFINED&cid=3001_DECwps_Law_and_Development" height=1 width=1 border=0></div>2014-10-31T04:00:00.000Z2014-10-31T04:00:00.000ZLaw and Development|Public Sector Development|Governance|Conflict and Development|Social DevelopmentCrime and Society|Public Sector Corruption & Anticorruption Measures|Human Rights|Post Conflict Reconstruction|Governance IndicatorsAfricaRalston, LauraTrafficking and fragility in West AfricaEnglishWestern AfricaLaw and Development|Public Sector Development|Governance|Conflict and Development|Social DevelopmentCrime and Society|Public Sector Corruption & Anticorruption Measures|Human Rights|Post Conflict Reconstruction|Governance IndicatorsWPS7079Western AfricaEnglishPolicy Research Working PaperAfrica